Use the following data to compute inventory turnover.

Current assets

Cash and shortterm investments $ 14,657,000

Accounts receivable 71,873,000

Inventory 56,372,0001

Plant and equipment 26,881,000

Long-term investments and other assets 20,606,000

Total assets $190,389,000

Current liabilities $ 37,481,000

Long-term debt 17,895,000

Equity 135,013,000

Total liabilities and equity $190,389,000

Sales $254,553,000

Cost of goods sold 149,903,000

Selling, administrative, and other expenses 69,609,000

Earnings before interest and taxes 35,041,000

Interest 2,529,000

Taxes 13,972,540

Net income $ 18,540,000

Earnings per share $4.13

Dividends per share $1.80

1 Average inventory = $56,530,000